Or just raise your prices instead of hitting customers with surprise fees. I own a small business. The vast majority of our revenue is from credit cards. We don’t pass those fees into customers, we just raise our prices as needed.
According to my friendly neighbourhood corner shop owner they pay 3% on card transactions, unless it’s over a certain amount and then they pay a flat rate.
But he’s not sure what that amount is because as a tiny corner shop they basically never hit it.
Perhaps you’d pay a flat rate if you were paying for a PS5 or something in that price range, I’m not sure.
This is because the system hates cash and has erected all types barriers and inefficiencies when handling cash.
You should look into Monero, it is like cash but digital. No more worrying about your payment processor cutting you off because of you political views.
This is because the system hates cash and has erected all types barriers and inefficiencies when handling cash.
No, it’s because handling cash is literally freaking expensive. You have to transport it (and especially coins can weigh a lot), you have to secure it on location and during transit (those bank transports are not cheap), you have to count it, you have to handle damaged money, …
Cash is expensive. It’s not “because the system hates cash”, it’s because it’s a physical thing that has to be physically handled.
Credit cards transaction may only cost a few percent, but the cost to business can be significantly higher. For example visa forces you to no require a minimum for credit cards, and they charge a base fee regardless. Also if a customer issues a dispute, the business may have to pay the dispute fee, regardless of the outcome of the dispute. Louis Rosmann as quite a few good videos on this topic, eg: https://www.youtube.com/watch?v=6an5ZP4Vnzg
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Ya, they’re going for the ~35% tax dodge
More like 65%, taxes has become slavery. If you are intelligent you can avoid most of it, the ignorant end up paying most of it.
Where in the world would you end up paying 65%?
65% effective tax rate lmaooooo. I don’t even know a country where the tax brackets go up that high.
Every communist infested country, US, UK, AU.
All of your income is taxed multiple times, after all is said and done you are paying ~80%, you are a slave.
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Typical idiotic commie reply, why are communists total morons.
The small restaurant I work in racked up at 16k in credit card fees in months. We’ve had to start applying the 3% fee to credit card sales.
Or just raise your prices instead of hitting customers with surprise fees. I own a small business. The vast majority of our revenue is from credit cards. We don’t pass those fees into customers, we just raise our prices as needed.
Say that really fucking slowly. Like maybe three or four times until it clicks.
Also, raising prices passes this cost onto ALL customers. Having a credit card fee only charges those that want to use a credit card.
So really your solution is shittier.
Let me say this very slowly so you can comprehend.
Price on menu: $10.
Price at checkout because CC fees passed on to me: $10.30
That’s a surprise fee.
Price on menu where the price was raised to account for CC fees: $10.30
Price at checkout: $10.30
No surprise fee.
As someone who really fucking hates surprise fees, thank you.
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Communist logic at its best. 🤣️
Medium sized business owner here. We pay a lot more for the handling of cash than for cashless.
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According to my friendly neighbourhood corner shop owner they pay 3% on card transactions, unless it’s over a certain amount and then they pay a flat rate.
But he’s not sure what that amount is because as a tiny corner shop they basically never hit it.
Perhaps you’d pay a flat rate if you were paying for a PS5 or something in that price range, I’m not sure.
This is because the system hates cash and has erected all types barriers and inefficiencies when handling cash.
You should look into Monero, it is like cash but digital. No more worrying about your payment processor cutting you off because of you political views.
No, it’s because handling cash is literally freaking expensive. You have to transport it (and especially coins can weigh a lot), you have to secure it on location and during transit (those bank transports are not cheap), you have to count it, you have to handle damaged money, …
Cash is expensive. It’s not “because the system hates cash”, it’s because it’s a physical thing that has to be physically handled.
My payment processor doesn’t know my political views.
Yes they do, but they agree with them for now so you are OK at this point.
How do you know
As long as you believe in state power monopoly you are fine, the bankers own the payments processors as well as the state.
Credit cards transaction may only cost a few percent, but the cost to business can be significantly higher. For example visa forces you to no require a minimum for credit cards, and they charge a base fee regardless. Also if a customer issues a dispute, the business may have to pay the dispute fee, regardless of the outcome of the dispute. Louis Rosmann as quite a few good videos on this topic, eg: https://www.youtube.com/watch?v=6an5ZP4Vnzg